(Last Updated September 8, 2021 0:20 GMT)
Currently, GBPCHF’s rate is down -1 pips (-0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
GBPCHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
A moment of silence, please, for the end of GBPCHF’s 3 day up streak; price ended the previous day down 1 pips (-0.01%) to finish the day at a rate of 1.2662921674. Out of the 39 instruments in the Forex asset class, GBPCHF ended up ranking 20th for the day in terms of price change. The price chart of GBPCHF below illustrates.
GBPCHF Technical Analysis
Notably, GBPCHF is now close to its 20, 50, 100 and 200 day averages, located at 1.2618, 1.2649, 1.2683 and 1.2544 respectively, and thus may be at a key juncture along those timeframes. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 50 day average, which is 13.6 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 14 days GBPCHF’s price has gone up 8 them. And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well. Rejoice!